Description

2252 Ellis Street is a four-unit multifamily property for sale in North Las Vegas, NV 89030. The property is 100% occupied, giving investors an in-place income stream alongside a stabilized return profile tied to its residential units.

Built in 1963, the property has a 2BR unit mix on 0.19 acres. Residents have on-site laundry, extra storage, a fenced yard and on-site parking. Remodeled kitchens, upgraded plumbing and double-pane windows add to the appeal of the units, while private exterior storage gives each household space beyond its living area. The shared laundry room and storage building provide practical amenities for a small multifamily property.

The North Las Vegas location is near Carey Avenue and Mojave Road, with the North Las Vegas Fire and Police Departments within walking distance. For residents using transit, the northbound Las Vegas stop before McCarran and the westbound Lake Mead stop before Belmont are each 0.4 mi away. These nearby services and transit stops give an investor concrete points of reference for how residents connect with the surrounding area.

The asking price is $640,000, or $212.77 PSF. In-place NOI of $38,071 corresponds to a 5.90% in-place cap rate; the stabilized figures are $54,199 in NOI and an 8.50% cap rate. That distinction gives buyers an in-place income case and a separate stabilized case to underwrite. The four-unit format keeps the investment focused on a single property, while the fenced yard, laundry and storage remain tangible features for residents. Review the Offering Memorandum and AI Brief for a closer look.